Welcome to the Fear and Greed Business News Afternoon Report for Thursday, the twenty first of November twenty twenty four. I'm Sean Almer. Every afternoon, we've got the five stories that happened today that you need to know about. Stornham One common off banks share price hit another new record today, more than one hundred and fifty seven dollars per share, but like the market, it eventually ended the session flat. The biggest company on the ASEX closed down just to touch at the one hundred and fifty six dollars and twenty three cents a share. The SMPAX two hundred finished flat at eighty three hundred and twenty three points. Over All, the banks were mixed, though Westpac had a good day. The miners were also mixed, though for Skew Metals Group jumped. In corporate news, web Travel Group, which was spun out of Webjet, has been told by its auditors to change its previous financial reporting that sent its share price down four percent today. The share prices of both Sayona Mining and Piedmont Lithium tumbled after an equity raised by Sayona. Those two lithium companies are set to merge and an update on the story of the boss of Reservue Mining, Terry Hollahan. Now he has been detained in Marli after the gold miner struck a deal to pay one hundred and sixty million US dollars to the Marlian government. Mister Hollahan and to other execs have reportedly been released Story number two. Cole's boss Leah Weckertt has told the Competition Inquiry that the supermarket group is always looking to beat Woollies and the number of major competitors out there has grown and now includes Amazon. Wickett also pushed in store experiences, saying a few years back, when Cole's focused only on value, it actually lost market share. The Competition Inquiry heard that Coles buys about fifteen percent of all fruit and veggies grown in Australia, Woolies grows about twenty percent, and the two big chains controlled sixty seven percent of the market. Cole says it monitors Woolly's, Ldija, Costco and now Amazon in all sorts of areas the latter and place things like Nappy's washing powder and snacks. Missus Wickett said customers had changed in the past eighteen months. They're trying cheaper brands and certainly going to house brands. The ahriable C's inquiring into the supermarket sector, including pricing practices of the big supermarkets and their relationships with suppliers. Story number three an attempt by an activist investor to end the dual class share structure and News Corp has been voted down at the company's annual General Meeting, ensuring the Murdoch family continues to control the company. Now the Murdocks control about forty one percent of voting shares. Starboard Value had argued the dual structure that applies at the moment gives the Murdoch's outsized influence, ie when Rupert steps down, he could put Locklan in charge. News Corp has argued that the structure promotes stability and the company has done well under it. At the AGM, the proposed changes were voted down. Also, Rupert Murdoch is trying to change the family trust conditions to have sole control of News Corp go to Lachlan upon his death, rather than dividing it among his four older children. Were still waiting on the ruling from that one. In a Nevada probate court. Story number four. Mineral Resources held its AGM today and there was little sympathy for founder and chief executive officer Chris Ellison, who's been embroiled in an alleged tax avoidance scheme. Chair James McClements started off by telling the meeting that Ellison lacked the judgment and integrity the board expected. MinRes has hired Elizabeth Broderick, the former sex discrimination commissioner, to conduct a report into the company's culture. Mister McClement said MinRes will exit or on wine business deals with parties related to mister Ellison. The ren all sorts of revelations in recent months of multiple corporate governance failings at Mineral Resources, and it was mister Ellison's first public appearance since the scandal broke. He expressed contrition and said, I quote, I can't stress enough how much I hate what I've done, and a dark cloud in my life that I lived with forever and story number five Wall Streets. The largest company chip maker, Nvidia, has placeded a slightly disappointing quarterly result, mostly because it met expectations. The rise and rise of Nvidia is such that if it doesn't shoot the lights out, then people are disappointed. For the third quarter, it broadly met expectations, but no more. Its outlook statement was slightly disappointing after our share price training suggested the stock will fall about three percent, though it did come back a little later in the day. Bitcoin also pushed through ninety seven US dollars a unit that's worth a mentioned this afternoon. That's if the Afternoon report for Thursday, the twenty first of in November twenty twenty four. Michael Thomps and I will be back tomorrow morning with the Friday edition I Hear and Breed Business News. I'm Seanelma. Enjoy your reading.

Welcome to the Fear and Greed Business News Afternoon Report for Thursday, the twenty first of November twenty twenty four. I'm Sean Almer. Every afternoon, we've got the five stories that happened today that you need to know about. Stornham One common off banks share price hit another new record today, more than one hundred and fifty seven dollars per share, but like the market, it eventually ended the session flat. The biggest company on the ASEX closed down just to touch at the one hundred and fifty six dollars and twenty three cents a share. The SMPAX two hundred finished flat at eighty three hundred and twenty three points. Over All, the banks were mixed, though Westpac had a good day. The miners were also mixed, though for Skew Metals Group jumped. In corporate news, web Travel Group, which was spun out of Webjet, has been told by its auditors to change its previous financial reporting that sent its share price down four percent today. The share prices of both Sayona Mining and Piedmont Lithium tumbled after an equity raised by Sayona. Those two lithium companies are set to merge and an update on the story of the boss of Reservue Mining, Terry Hollahan. Now he has been detained in Marli after the gold miner struck a deal to pay one hundred and sixty million US dollars to the Marlian government. Mister Hollahan and to other execs have reportedly been released Story number two. Cole's boss Leah Weckertt has told the Competition Inquiry that the supermarket group is always looking to beat Woollies and the number of major competitors out there has grown and now includes Amazon. Wickett also pushed in store experiences, saying a few years back, when Cole's focused only on value, it actually lost market share. The Competition Inquiry heard that Coles buys about fifteen percent of all fruit and veggies grown in Australia, Woolies grows about twenty percent, and the two big chains controlled sixty seven percent of the market. Cole says it monitors Woolly's, Ldija, Costco and now Amazon in all sorts of areas the latter and place things like Nappy's washing powder and snacks. Missus Wickett said customers had changed in the past eighteen months. They're trying cheaper brands and certainly going to house brands. The ahriable C's inquiring into the supermarket sector, including pricing practices of the big supermarkets and their relationships with suppliers. Story number three an attempt by an activist investor to end the dual class share structure and News Corp has been voted down at the company's annual General Meeting, ensuring the Murdoch family continues to control the company. Now the Murdocks control about forty one percent of voting shares. Starboard Value had argued the dual structure that applies at the moment gives the Murdoch's outsized influence, ie when Rupert steps down, he could put Locklan in charge. News Corp has argued that the structure promotes stability and the company has done well under it. At the AGM, the proposed changes were voted down. Also, Rupert Murdoch is trying to change the family trust conditions to have sole control of News Corp go to Lachlan upon his death, rather than dividing it among his four older children. Were still waiting on the ruling from that one. In a Nevada probate court. Story number four. Mineral Resources held its AGM today and there was little sympathy for founder and chief executive officer Chris Ellison, who's been embroiled in an alleged tax avoidance scheme. Chair James McClements started off by telling the meeting that Ellison lacked the judgment and integrity the board expected. MinRes has hired Elizabeth Broderick, the former sex discrimination commissioner, to conduct a report into the company's culture. Mister McClement said MinRes will exit or on wine business deals with parties related to mister Ellison. The ren all sorts of revelations in recent months of multiple corporate governance failings at Mineral Resources, and it was mister Ellison's first public appearance since the scandal broke. He expressed contrition and said, I quote, I can't stress enough how much I hate what I've done, and a dark cloud in my life that I lived with forever and story number five Wall Streets. The largest company chip maker, Nvidia, has placeded a slightly disappointing quarterly result, mostly because it met expectations. The rise and rise of Nvidia is such that if it doesn't shoot the lights out, then people are disappointed. For the third quarter, it broadly met expectations, but no more. Its outlook statement was slightly disappointing after our share price training suggested the stock will fall about three percent, though it did come back a little later in the day. Bitcoin also pushed through ninety seven US dollars a unit that's worth a mentioned this afternoon. That's if the Afternoon report for Thursday, the twenty first of in November twenty twenty four. Michael Thomps and I will be back tomorrow morning with the Friday edition I Hear and Breed Business News. I'm Seanelma. Enjoy your reading.